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No Foreign Transaction Fee Credit Cards
If you ever travel outside of the country, you know that how to pay for things can be a bit confusing. Should you convert U.S. cash into the local currency or use your credit or debit card to make purchases? Savvy travelers know that using a credit card with no foreign transaction fees is the best option for traveling overseas. Let’s unpack the details of no foreign transaction fee credit cards so you can be fully informed.
Avoid Extra Charges with a No Foreign Transaction Fee Credit Card
Before you leave the country, it’s important to know whether or not your credit card charges a foreign transaction fee. If it does, you will be hit with an addition fee for every purchase you make. Foreign transaction fees are normally 3% of each transaction in the form of U.S. dollars. Depending on how many transactions you make and how much you spend, that can add up to a hefty price tag just for swiping your card.
Luckily, there are many credit cards available that don’t charge any foreign transaction fees at all. You can expect that almost any credit card that labels itself as a ‘travel’ card will come with no foreign transaction fees, but always check the terms and conditions to make sure. Even many cards that don’t specifically offer travel rewards have no foreign transaction fees as an added perk. For example, every credit card issued by Capital One and Discover comes with no foreign transaction fees.
No Foreign Transaction Fees – The Bottom Line
With many cards offering no foreign transaction fees, it would be silly to take a trip abroad and pay a 3% fee for every purchase you make. Whether you want a premium travel card loaded with perks and rewards or a simple cash back card with low interest rates, it’s easy to find a card that meets your needs and also comes with no foreign transaction fees. Take a look at the cards above a select the best one for you. Apply securely online today so you don’t get dinged with a foreign transaction fee on your next trip!